SERVICES

At Family Heritage Group, our services include an in-depth analysis of your estate to determine if you are receiving the maximum benefit provided by law.

We specialize in Medi-Cal pre planning, government entitlements, as well as safe and secure investments.

Medi-Cal, Pre-Planning

Medi-Cal (called Medicaid in other states) is a state program that helps middle class families pay for the high cost of long-term care in Skilled Nursing Facilities. (Current cost in California is approximately $7,628/month.)

How We Can Help

Many can qualify for Medi-Cal; if you have been turned down for Long-Term Care Insurance, or never tried to qualify for it, you can still qualify for Medi-Cal to help offset custodial care nursing home costs! If your assets and resources are structured according to Medi-Cal rules and guidelines, you may qualify. If you do not know the rules, it may cost you.

Qualifying for Medi-Cal can be a complicated, time-consuming, and frustrating experience, as it can be with any government bureaucracy. Family Heritage Group deals directly with Medi-Cal so you don’t have to. We make sure that our clientele receive the best possible assistance in getting quality healthcare without having to spend down assets.

We understand if you are a little apprehensive. However, Ed and his staff have many years of experience in dealing with the very complex and often tedious process of applying for Medi-Cal, handling the annual re-determination, and any other issues that may arise due to changing circumstances in California Law or with the client.

Veterans Administration Aid & Attendance

The Aid & Attendance program was designed in order to provide financial assistance to wartime veterans and/or their surviving spouses, who have high out-of-pocket medical expenses, are disabled, or homebound to help them offset healthcare costs.

Eligibility

Veteran must have served at least 90 days of active duty with one day during a time of war & the veteran received discharge from service under any condition other than dishonorable.

  • WWII (Dec. 7, 1941 to Dec. 31, 1946)
  • Korean Conflict (June 27, 1950 to Jan. 31, 1955)
  • Vietnam (Aug. 5, 1964 to May 7, 1975)
  • Persian Gulf (Sept. 2, 1990 to present-Minimum 2 years of active duty)

Qualifications

The ultimate purpose of the Aid & Attendance pension benefit is to provide veterans or their surviving spouses with additional resources so they can afford care, on an ongoing basis, in their time of need.

  • Single Veteran
  • Married Veteran
  • Un-remarried surviving spouse of a Veteran

If someone who meets any of the above has proven that they are medically needy and require assistance for activities of daily living (ex: bathing, dressing, medication management, etc.), then you may be eligible for the program.

How We Can Help

While the Department of Veteran’s Affairs, as well as Veteran’s Service Organizations, provide assistance with the pension application process, it can be time-consuming, complex and frustrating. We consult individually with each family, which alleviates the difficulty and frustration in dealing with the bureaucratic system. We also ensure that the case is qualified before filing a claim on the client’s behalf. Doing this avoids endless red tape, unnecessary delays, or, in worst-case scenarios, denial of benefits due to an inadvertent mistake or lack of information regarding the rules.

Federal law restricts anyone helping with VA benefits to a $10.00 charge. Your consultation with Ed Outland is at no charge.

Income Requirements

In order to be eligible to receive Aid & Attendance, we must prove all income is being used for medical expenses.

Medical expenses include doctors, dentist, Medicare premiums, insurance premiums, and the cost of assisted living facilities, in-home care, or the need to live in a protective environment.

Net-Worth

“Net-worth means the net value of the assets of the veteran and his dependents excluding the home and one car. There is no set limit on how much net-worth a veteran and his dependents can have, but net-worth cannot be excessive.”

Although the VA has not defined ‘excessive net-worth’ specifically, the rule of thumb is that a veteran must have a general net-worth lower than $30K if single or $50K if married.

Monthly Benefit Amounts for Claimant Once Approved:

The following amounts are effective as of January 1, 2015:*

  • Veteran and Spouse = $2120.00
  • Single Veteran = $1788.00
  • Surviving Spouse = $1149.00

(*Rates are adjusted annually to match the Social Security cost of living adjustment.)

Safe and Secure Investments

Tax Rules

Our services include detailed information on how to potentially reduce Social Security income tax (provisional income).

** There are additional tax rules one should be aware of. Please contact a tax professional.

How to Pre-Plan Your Retirement Income for Life

An investment strategy with the objective of providing inflation adjusted income for life.

The Facts:

During the period between 1991-2010, the S&P 500 grew by 8.2%, while the average mutual fund investor earned only 3.17%1.

Why?

  1. Lack of Strategy: Individuals chased performance and became integral players in momentum-driven markets.
  2. Lack of Patience: With the average mutual fund position held for just 2 years, investors did not give their investment decisions sufficient time.
  3. Emotions: Many investors succumbed to emotionally-based-decision-making, driven first by greed and then followed by fear.

The Challenge:

More than ever before retirees are dependent upon their investments to generate retirement income. Interest rates are at levels not seen in decades. This has reduced the current income that can be gained from savings & investments. Retirees must find new ways to boost levels of current income without undue risk. No asset allocation approach was available that placed sufficient emphasis on the present and future income needs of retirees. The central objective for ‘Income for Life’ investment strategy is to provide an inflation adjusted income for life.

1Dalbar Inc. (a company which studies investor behavior and analyzes investor market returns)- Past Performance does not guarantee future results. S&P 500 is an unmanaged index of 500 widely held stocks. Keep in mind that individuals cannot invest directly in any index, and index performance does not include transaction costs or other fees, which will affect actual investment performance. Individual investor’s results will vary.

Choices Facing Retirees

The Problems:

Invest only in “Guaranteed Investments” (CDs, Fixed Annuities, etc.):

  1. Low rate of return
  2. Insufficient current income
  3. No inflation protection

Invest in Growth Vehicles:

  1. Possibility of negative returns
  2. Drawing income during normal market downturns could put investment principal at risk

A Solution:

A strategic combination of asset allocation & product selection with the following goals:

  1. Minimize the impact of emotions
  2. Increase income to help maintain purchasing power throughout retirement
  3. Minimize risk
  4. Preserve principal
  5. Realize the best possible chance of achieving investment results by keeping assets over time*

*Investments involve risk & you may incur a profit or loss.
*CDs are FDIC insured and offer a fixed rate of return, whereas both principal and yield of investment securities do have risk and may fluctuate with changes in market conditions. Annuities’ guarantees are backed by the claims paying ability of their insurer.
*Asset allocation cannot guarantee a profit or ensure protection against losses.
*Investment decisions should be based on an individual’s goals, time horizon, and tolerance for risk.